Mountaineer Keystone

Arsenal Resources | Energy Companies | Mountaineer Keystone

Mountaineer Keystone Renames Itself Arsenal Resources
February 20, 2017May 18, 2017

In October 2014, Mountaineer Keystone, a pure play Marcellus/Utica driller headquartered in Pittsburgh, bought out PDC Mountaineer for half a billion dollars, creating a company with 181,000 net acres totally focused on the northeast (see Major New Player in the Marcellus Emerges: Mountaineer Keystone). Mountaineer Keystone got its start in 2010 when founder/CEO Rob Kozel formed the initial management team from former Texas Keystone people. In 2011 the company took a boatload of money from First Reserve, an energy investment firm. We don’t have the back story, but in November 2015, Mountaineer announced that Kozel was out as CEO, and in his place the board has selected David Wood, the current Chairman of the Board at Mountaineer Keystone (see Shake-up at the Top of Marcellus Driller Mountaineer Keystone). Last Friday Mountaineer changed its name–to Arsenal Resources…
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Energy Companies | Mountaineer Keystone

Shake-up at the Top of Marcellus Driller Mountaineer Keystone
November 19, 2015November 19, 2015

A little over a year ago, Mountaineer Keystone, a pure play Marcellus/Utica driller headquartered in Pittsburgh, bought out PDC Mountaineer for half a billion dollars, creating a company with 181,000 net acres totally focused on the northeast (see Major New Player in the Marcellus Emerges: Mountaineer Keystone). Mountaineer Keystone got its start in 2010 when founder/CEO Rob Kozel formed the initial management team from former Texas Keystone people. In 2011 the company took a boatload of money from First Reserve, an energy investment firm. We don’t have the back story, but on Tuesday Mountaineer announced that Kozel is out as CEO and in his place the board has selected David Wood, the current Chairman of the Board at Mountaineer Keystone. Kozel will remain on the board in a “non-executive role.” As we said, we don’t know what happened, but it sure smacks to us of a palace coup–that Kozel was forced out of running the company he founded (we’ve seen it happen before, it ain’t pretty)…
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Energy Companies | Keystone Mountaineer | Mountaineer Keystone | PDC Mountaineer | Statewide WV | West Virginia

Major New Player in the Marcellus Emerges: Mountaineer Keystone
October 16, 2014November 19, 2015

Earlier this week Mountaineer Keystone, a shale driller headquartered in Pittsburgh, announced it had bought out PDC Mountaineer for half a billion dollars ($500 million). Who are these two players? Mountaineer Keystone is backed by the money of investment firm First Reserve. PDC Mountaineer is a joint venture between PDC Energy and investment firm Lime Rock Partners. The deal means Mountaineer Keystone picks up a huge 131,000 net acres in the Marcellus/Utica region, boosting the company’s position to a new 181,000 net acres. Also part of the deal is a small gathering pipeline operation. Here’s the details…
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Energy Companies | Hydraulic Fracturing | Industrywide Issues | Mountaineer Keystone | Ohio | Portage County | Utica Shale

ODNR Says Methane in OH Water Well NOT Caused by Utica Drilling
November 14, 2013November 14, 2013

In January MDN told you about the Kline family, in Portage County (near Cleveland), who claimed nearby Utica Shale drilling had contaminated their water well with methane (methane migration) to the point they could, yes, light their water tap on fire. It made big headlines at the time and the family (with flaming faucet) was featured on the NBC Today show (see Methane Migration into Water Well Near Cleveland, OH). At the time MDN said it certainly appeared like they had a case against driller Mountaineer Keystone for methane migration. Our assumption was completely wrong.

The Ohio Dept. of Natural Resources (ODNR) performed an extensive investigation of not only the Kline family’s water well but a dozen other nearby water wells. Using test results from before and after drilling, they concluded the methane in the Kline’s water well is NOT from nearby Utica Shale drilling but is instead naturally occurring. Oops. Think the $25 million/year salaried Matt Lauer will now have the Kline family back on Today to ask them if they’re ready to apologize for making a false claim against the driller? Yeah, don’t hold your breath on that one…
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Accidents | Cuyahoga County | Energy Companies | Hydraulic Fracturing | Industrywide Issues | Mountaineer Keystone | Ohio

Methane Migration into Water Well Near Cleveland, OH
January 14, 2013January 14, 2013

It seems possible, and from the reporting, even likely, that shale gas drilling (and fracking) has caused methane migration and “contamination” of a water well for a family that lives outside Cleveland, OH.

Below is the story as reported by the Washington Examiner. The family’s water was tested before drilling was begun by Mountaineer Keystone and there was methane present in the water, but at the safe level of 9 parts per million. Now, after nearby drilling? There’s 22 PPM in their water, and they can (yes) light their faucets on fire, just like in the notoriously inaccurate movie Gasland…

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CNX Resources | CONSOL Energy | Energy Companies | Gulfport Energy | Harrison County | Mahoning County | Monroe County | Mountaineer Keystone | Ohio | Portage County

ODNR Issues New Permits in Mahoning, Other OH Counties
September 26, 2012September 26, 2012

The latest permits issued in Mahoning, Harrison, Portage and Monroe counties in Ohio:

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Barbour County | Crestwood Midstream | Energy Companies | Energy Services | Industrywide Issues | Mountaineer Keystone | Pipelines | Preston County | Taylor County | West Virginia

Mum’s the Word on New Tygart Valley Pipeline in WV
February 14, 2012February 14, 2012

In December, MDN reported that Houston-based Crestwood Midstream will construct a new 16” inch Marcellus gathering pipeline that will run 42 miles through Preston, Taylor and Barbour counties in northeast West Virginia, connecting to Columbia Gas Transmission’s WB Pipeline in Randolph County, WV, delivering Marcellus gas to the Washington, DC and Baltimore markets (see this MDN story).

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Barbour County | Crestwood Midstream | Energy Companies | Energy Services | Industrywide Issues | Mountaineer Keystone | Pipelines | Preston County | Randolph County | Taylor County | West Virginia

Crestwood to Build New Marcellus Pipeline in NE WV
December 14, 2011December 14, 2011

Houston-based Crestwood Midstream yesterday announced they will construct a new 16” inch Marcellus gathering pipeline that will run 42 miles through Preston, Taylor and Barbour counties in northeast West Virginia, connecting to Columbia Gas Transmission’s WB Pipeline in Randolph County, WV. By connecting to the WB Pipeline the new gathering pipeline will have access to the Washington, DC and Baltimore markets.

The new pipeline will be completed by this time next year and already has a long term “anchor” contract with Mountaineer Keystone, a Pittsburgh-based drilling company that will commence their horizontal drilling program in the area in the middle of 2012.

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